Basic Attention Token [BAT] tanks by 8% after hitting a price wall

2019-05-10

Basic Attention Token [BAT] tanked, despite the market rallying following Bitcoin’s surge. On the back of the token’s splendid performance in 2019, a massive correction wave hit BAT.

The price of BAT, at press time, was $0.3112 and it had a market cap of $381 million. The price fell by 8.34% over 24 hours and over a 7-day time frame, the price declined by 23%. However, the YTD change in prices was a positive 153%.

The 24-hour volume saw a fall from $42 million to $36 million. At the time of writing, the 24-hour volume was $36 million and most of the trading volume was coming from ZB.COM via BAT/USDT. The said exchange contributed 22% of the total trading volume i.e., $8.2 million. CoinBene followed ZB.COM, contributing $4 million via BAT/BTC.

Although BAT has performed well in the past when compared to other altcoins, its uptrend seems to have hit a roadblock. The price of BAT hit a peak on April 21, and it has been on a downtrend ever since. It has fallen by approximately 35% since.

The recent update in the BAT ecosystem was Brave browser updating its Ads feature. The update to the browser was announced two weeks ago. Further, the token has performed better than the third largest cryptocurrency, XRP, in 2019.